Joe Samson

The kids have finally grown up and moved on with theirs lives and your nest is now empty… As you take a glance at your wall which is full of family memories and obvious signs of wear and tear, as your eyes scroll from one beat up corner to another you quickly realize that this place could use a serious overhaul in order to bring the looks of your home into style.

The unavoidable and annoying conversation of “renovating” starts surfacing with your spouse at an increasing regularity. Welcome! If this makes you feel any better you are not alone. A growing number of empty nesters are deciding to remain in their existing homes much longer nowadays – a trend of a new lifestyle seems to be emerging which greatly influences the type of renovation projects that people are tackling.

Contractors and Architects are commenting that in the past a typical renovation project used to go perhaps a far as the kitchen and the bathroom. Based on my previous real estate experience, these two types of projects have provided the biggest bang for the homeowners’ buck. Especially, in the Calgary real estate market more homeowners are opting to add more personal touches to their homes. They commonly top up their renovation list with items that they have always wanted but perhaps were unable to afford or upgrades that didn’t make sense spending money on when having the ramming kids around and appreciating little of their parent’s investments – like a scratch free, gleaming hardwood floor with an elegant cherry wood kitchen cabinet.

A cherry kitchen cabinet may not be exactly of what you are looking for, but if you are seriously considering upgrading your home, please consider the following tips to help you along your way:

• Have a plan – You must be able to plan every aspect of the project to discover exactly what you want, and to purposely stay away from expensive and time consuming “knee-jerk type” alterations throughout the process.

• Budget – Plan a budget that truly reflects your financial capabilities and it won’t keep you up at night if you need to spend an additional 10% of the overall planned budget when the unexpected arises. Trust me, it’s not an IF but a WHEN question! Be sure to often compare running costs to your preplanned budget.

• Contractors – This could make or break your whole experience and potentially leave scars for ever if you are not careful with this step. Take your time with selecting your team of professionals and ask for many references. I would take it to the point where I would certainly want to have three companies competing for the work and have all three of them to submit references of current projects, past projects and also references of people who have complained and how they have handled the situation.

• Sweat equity – If you still have some of the “I can do it” attitude left in you than try to tackle on as much as you can comfortably take on. Those little odds and ends do take a lot of time and money and often you can do most of it yourself.

• Managing – Regardless if you contract out 100% of the work – you still need to keep your finger on the pulse of the project and make sure that the promises are delivered in good fashion. From time to time you will be required to make quick on the spot decision and don’t be afraid to hold your contractors accountable to their words.

• Getting the money – Even with today’s vigorous bank approval process – your financing options may include getting a line of credit, either secured against the equity of your home or an unsecured PLC. Remortgaing your home or requesting a construction loan may also be an option available to you.

• Another option – if you just want to take the most convenient approach – I can always help you to locate the perfect home in the Calgary real estate market.

For information about the Calgary real estate market, visit www.JoeSamson.com an excellent resource for Calgary Real Estate Statistics.

Read any Top 10 list of things to do to prepare your house for sale and “Get rid of the clutter” is sure to be on it.

But how important is cleaning up really? Does your home have to look immaculate, like it’s been torn from the page of a decorating magazine? Can’t the average buyer look past a little clutter and see the value of your home for what it really is?

The answer lies in psychology.

Clutter - a disorganized garage, an overstuffed closet, a disheveled basement - can make people feel uneasy and even edgy. In a study published in the Journal of Family Psychology,clutter was even linked to depression.

In addition, clutter can create a feeling of hesitancy, even inertia. “At the sight of clutter people shut down,” says organization expert Cathy Philips. “They don’t want to do anything”. But you want a home buyer to do something - make you an offer!

Clutter can also draw attention to the wrong things. Instead of a big double garage, for instance, a buyer’s attention may be focused instead on boxes, lawn equipment and bikes piled
in the corner. Clutter can instantly turn a great selling point into a turnoff.

And if all that isn’t enough, clutter has the knack for making everything seem smaller. A big spacious closet can look downright claustrophobic when stuffed to the ceiling with
shoes, clothes and boxes.

So don’t underestimate the psychology of clutter. According to research by HomeGain, getting rid of clutter ranks as one of the best investments you can make in preparing your home for sale, averaging a 594% return on your investment.

Looking for more ways to sell your home faster and for more money? Call today.

The annual winter lull in the real estate market means that the time is good for prospective buyers who like to take their time. With Canadian unemployment at a 33 year low, the real estate market looks like holding strong despite the U.S. housing crisis.

It is difficult for many of us Canadians to accept that while the U.S. real estate market may be floundering, the Canadian market is steady. In fact, due to the strength of our dollar and the weakness of the U.S. dollar against International currencies, many Americans are actually buying into Canada to preserve their funds, hence further driving up prices by increasing the demand for houses.

While coastal and lake areas would seem an obvious choice for American speculation, many are buying properties simply as an investment project to hedge against their dropping currency. Renting a condo is one of the easiest ways to make money and have the property 'buy itself', and condo sales everywhere have jumped as people are realizing the enjoyment of life without maintenance!

Calgary condos are an attractive investment and they offer a reasonable price range if you are trying to get started on the property ladder. The increased inventory of all properties has slowed the market at the moment, so now is a good time to look for a condo. Some builders have even dropped their prices, so brand new ones can be snapped up by the shrewd buyer.

Despite the changes emanating from the famous revisions to the oil royalty revenue, Calgary has a strong economy and has seen a large population increase. According to one national forecast, it is poised to experience moderate growth and a sustainable real estate market though 2008.

Average house prices in Calgary are set to increase by 5% and in a slower moving market, first time buyers may be encouraged to put their toe in the water.

Falling interest rates are also on the horizon as financial market confidence had been severely undermined by the prospects of a U.S. recession and the possibility of some contagion to the global economy. Speculation out there is that the Bank of Canada is going to further cut their interest rate by 75 basis points before the end of spring.

According to a report released by TD Bank Financial Group, another monetary upside for us Canadians is that unlike our American neighbors, we are not losing money on both ends of our portfolios (real estate & stock market). House prices will remain in a positive swing during 2008 and there is little concern that the housing market will mirror the slump in the U.S. In fact, Calgary's real estate is projected to increase 5% in 2008 compared to the losses in the U. S. of 5% or even more in some regions.

Things often 'heat up' in the housing market in the spring, so now may be a good time to invest in Calgary's real estate.

For information about the Calgary real estate market, visit www.JoeSamson.com an excellent resource for Calgary Real Estate Statistics.

On January 18th, 2007 Calgary REALTORS® saw their efforts come to fruition with the completion of the 60 unit affordable housing facility, Crestwood, open and ready for move-in. This project, located in the Milligan-Ogden area, has been in the works since 2005, with the Calgary Real Estate Board's Charitable Foundation partnering with the City of Calgary to raise funds. The CREB® Charitable Foundation raised over 1.6 Million toward the project.

Why did Calgary REALTORS® step forward? Because REALTORS® care about this city, the working poor population, and the community at large. REALTORS® meet their clients and get to know them on a very personal level. It isn't just about getting a listing, signing a contract, and exchanging keys on possession day. REALTORS® develop relationships with families, find out what their expectations are, and realize the dreams of the families they put in homes.

It's no surprise that REALTORS® see the bigger picture; some citizens in this great city simply can't afford to buy a home. While they work and they strive for that goal, they just can't make ends meet to qualify in the conventional sense.

Imagine a family of four with two parents working and two children going to school everyday. It's not that hard to imagine, but imagine that at the end of the day, they sleep in a church basement, or in a shelter. Don't these people deserve what we all want, a place for our family to grow and feel comfortable and safe; a place to call home? REALTORS® think they do.

Through a recent Provincial survey, the findings state that 68 per cent of REALTORS® have taken volunteerism to heart and are driven by a deep desire to make a difference.
 
In a recent speech at CREB's Forecast Breakfast, CREB® President, Ed Jensen, spoke to this issue saying, "You [REALTORS®] donate your time, energy, and money into your communities, your city, and across the country; we are just now trying to measure how much REALTORS® do," said Jensen.

"Our current project is the ‘Crestwood Affordable Housing project". We have raised over 1.6 Million for low income housing in 18 months with every one of our 5,700 members contributing. When the Rotary Club was looking for funds to operate the newly built Rotary Challenger Park, for children with special needs, REALTORS® were there.

The Canadian Real Estate Association has just organized the national REALTORS® Care Foundation, which includes a membership of over 88,000 members. This year, I intend to spread the word of the good works REALTORS® do," Jensen, concluded.

In a recent speech given at the official opening of the Crestwood building, Dave Hiley, 2007 President of CREB's Charitable Foundation had this to say, "In early March 60 families will begin to move into their new homes and this will be a very exciting time. The play ground equipment just outside will begin to echo with the sound of laughter and excitement."
But as we leave here today we need to remember that, as good as this is, it's a very small beginning. If we need motivation to continue and to focus on the housing challenges we face, I'd like to leave you with this thought.

If we highlighted the first 60 names on the long list of those who need an affordable home it would look pretty good. However, let's focus on ensuring that very soon we can take out our highlighter and by doing so put smiles on the faces of family number 61. Today they're still hoping, and waiting, and counting on the power of our partnerships and our resolve to make affordable housing solutions a reality," concluded Hiley

There's an old saying, if you want something done, give it to a busy person.

REALTORS® are busy, but they're not too busy to care and make a difference.

(Source: CREB)

For information about the Calgary real estate market, visit www.JoeSamson.com an excellent resource for Calgary Real Estate Statistics.

"Two thousand and eight will be a good year and a year of opportunity for serious buyers and sellers," said Calgary's newly elected, real estate board president Ed Jensen". "Seeing a solid Alberta economy, strong employment, predictions of movements to past levels of net migration, I see the Calgary market moving closer to normal market conditions -- as normal as Calgary can be."

The average sale price of a single-family home in the city will flirt with the half-million-dollar mark this year, according to the Calgary Real Estate Board. Jensen said the MLS average will increase by five per cent this year to $495,800 while condominium prices will rise by six per cent to an estimated average of $335,300.

Total sales will dip by five per cent for both the condo and single-family markets, to 7,700 and 17,500 respectively, compared with 2007. According to the real estate board, single-family homes in the city averaged $472,230 in 2007, up 17.94 per cent from $400,398 in 2006. The average sale price of a condo was $316,370, an increase of 19.98 per cent from $263,684 in 2006.Single-family sales in 2007 were 18,438, down 3.5 per cent from the 19,113 recorded in 2006, while condo sales dropped by 1.9 per cent to 8,236 units compared with 8,396 the previous year.

Lai Sing Louie, senior market analyst in Calgary for Canada Mortgage and Housing Corp., said the organization's forecast for 2008 is similar to the real estate board's prediction. "We're looking at about 5.5 per cent moderation in MLS sales and our price growth is in the same ballpark. We're looking around the 3.5 to five per cent level, too," said Louie. "There is a lot of supply out there. Going into the last part of the year we saw demand ease off. Some of that was because of the higher prices, but also there is a lower level of net migration that we're seeing coming to Alberta."

Several different real estate reports in the latter part of 2007 predicted average price growth in Calgary ranging from zero to 12 per cent. Jensen said the resale real estate market in 2007 came in like a lion and went out like a lamb. In the past six years, the city has experienced one of the hottest real estate markets on record. But in that atmosphere speculators and flippers have also come into the market and impacted its direction.

"A portion of the real estate market has always had an investor component where most adhere to an invest-and-hold program," said Jensen. "This type of investor is great for the marketplace, but investor flippers don't care about the community and can create an artificial demand, which contributes to an artificial price increase situation."

The Calgary real estate market overheated in the past couple of years, setting records in nearly all areas and straining affordability, he said. But a change happened in the past few months. The city moved from a seller's market, where the sellers could name their price, to a buyer's market where there is a better supply of homes giving buyers better choice.

"We're just coming off two record years," said Jensen. "Obviously, there's lots of speculation with a lot of outside investors coming to the economy and I believe that artificially created new listing environments." The real estate board forecast for acreages and recreational properties indicates listings and sales will both decline by five per cent in 2008. The average sale price for rural properties will jump by five per cent to $875,600. For surrounding towns, sale prices will rise by five per cent to an average of $396,000.

(SOURCE: CREB)